CNN - "Builder: Oversupply causing home slump" (8-9-06)

"Toll Brothers slashes outlook on new homes as orders plunge and revenue misses forecasts."

"Homebuilder Toll Brothers said the current slump in residential construction is unlike any it has seen in 40 years as it became the latest to warn of a glut in new homes for sale and a slowdown in the closely watched real estate market."

"The slowdown 'is the first downturn in the forty years since we entered the business that was not precipitated by high interest rates, a weak economy, job losses or other macroeconomic factors,' Toll said in his statement."

"'With many potential buyers on the sidelines right now, we believe there is growing pent-up demand that will come into the market once buyer sentiment improves,' Toll said."